Moody's rates Venezuela as B1

Moody's Investors Service assigned Wednesday to State-run
oil holding Petróleos de Venezuela (Pdvsa) a rating of
B1 both as global local currency a foreign currency issuer
with a stable outlook.

Moody's withdrew Pdvsa's ratings last year, in response to
the company's de-registration with the SEC and protracted
delays in the receipt of timely and transparent financial
information, Reuters quoted.

Since then, Pdvsa has produced updated audited financial
statements for fiscal years 2004 and 2005 under International
Financial Reporting Standards (IFRS) and interim unaudited
results for 2006.

On the Cover

02:57 PM.HEAVY RAINS.
Venezuelan Executive Vice-President Elias Jaua reported that the government is designing plans to support farmers, cattlemen and peasants of the state of Mérida who have been hit by heavy rains that have caused crop losses.